Second year distributions rise to 5.27%, third year 7.27%, according to the projections.Those projections may be at risk, for many reasons: the recent huge increase in interest rates -- increasing the cost of loans and decreasing valuations, insurance costs have skyrocketed, real estate taxes are up, labor and material costs for repairs & renovations have increased, etc.On the plus side, the majority of the ODC funds were designed to be high value add projects with plans to increase operating efficiencies, add tenants and raise rents.  

Did you use a hard money loan for this? 

Is there a pre existing loan with that bank with either of you?

For context, I will be assuming his VA loan at 5.1% and he will be doing seller financing for the remaining equity and sale price. 

With small multi-family, be careful with the neighborhoods in Indy as it is very street by street in some areas.

A few other methods cost some money but is usually just throwing away small amounts at a time. 

Quote from @Vince Scipione: Standard would be an FHA loan for your situation more than likely.

You will make more from loan pay down, yes you SHOULD have some appreciation.

I currently own and self-manage two STRs in Maine and should be closing on a small 'cabin campground' with 10 cabins nearby that will also be operated as STRs. 

Following Up + More details: @carolineOur utilities were also opened using an LLC but since the power had actually been shut off the problem mostly came from ICE sending someone out to turn it back on plus installing a new style meter (which had to be approved by our HOA but that was another matter entirely and not particularly difficult).Opening a bank account with BCR as an individual is easy and you can get an atm card in about 3 days but you will be limited to holding only a thousand dollars in it.